CUET CUET Mathematics 2024 - Which of the following are components of a time series ? (A) Irregular component (B) Cyclical component (C) Chronological Component (D) Trend Component Choose the <b>correct</b> answer from the options given below : | PYQs + Solutions

CUET Mathematics 2024

Statistics & Applications

Trends & Data

Easy

Which of the following are components of a time series ? $\newline$ (A) Irregular component $\newline$ (B) Cyclical component $\newline$ (C) Chronological Component $\newline$ (D) Trend Component
Choose the correct answer from the options given below :

(A), (B) and (D) only

(A), (B) and (C) only

(A), (B), (C) and (D)

(B), (C) and (D) only

Correct Option: 1

Time series have three main parts:

1. (A) Irregular component: Random ups and downs that don't follow patterns

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2. (B) Cyclical component: Big patterns that happen over many years

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3. (D) Trend Component: The overall direction (up, down, or flat) over time

"Chronological Component" (C) is not actually a real part of time series - it just means the data is in time order.

So the answer is: (A), (B) and (D) only